HP Soars to Record High After Buffett’s Berkshire Buys a Stake
- Conglomerate holds about 121 million shares in computer maker
- HP has benefited from demand for PCs in remote-work era
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Warren Buffett’s Berkshire Hathaway Inc. has found another way to put even more of its money to work, purchasing a stake in HP Inc. valued at more than $4.2 billion.
The disclosure that the billionaire investor’s company holds about 121 million shares in the computer maker sent HP’s stock surging to a record. The shares gained as much as 19% on Thursday to $41.47 in New York. Berkshire bought some of the stock earlier this week in multiple transactions, according to a regulatory filing late Wednesday.